COUAX Fees and Costs — Dynamic International Opportunity Fund
Data updated: 2026-09-08
The net expense ratio is 1.79% (2.39% before fee waivers). This share class carries a maximum front-end sales load of 5.75%, a deferred sales charge of up to 1.00% and a redemption fee of 2.00%. In fiscal 2025 the fund paid $3K in broker commissions, 0.0046% of average net assets, and portfolio turnover was 98%.
COUAX Fees and Expenses
Annual operating expenses and sales charges of COUAX. Prospectus, as of March 31, 2015.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.84% |
| Gross expense ratio | 2.39% |
| Fee waiver | −0.60% |
| Net expense ratio | 1.79% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 1.00% |
| Redemption fee | 2.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
COUAX Costs Over Time
On $10,000 invested in COUAX, assuming 5% a year before costs, total costs come to $1,775 over 5 years, cutting the return by 3.10% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Sales charges | $672 | $575 | $575 |
| Fund expenses (net expense ratio 1.79%) | $177 | $548 | $943 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $29 | $118 | $255 |
| Total costs | $879 | $1,243 | $1,775 |
| Value after costs | $9,621 | $10,334 | $10,988 |
| Impact on return, per year | 8.79% | 3.90% | 3.10% |
COUAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0046%
- Total broker commissions: $3K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 98%
- Securities on loan, average value: $16.1M
- Net income from securities lending: $271K (0.478% of average net assets)
COUAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Virtu Financial | $1K | 51.43% |
| Citadel Securities | $847 | 32.70% |
| Jane Street | $411 | 15.87% |
Dynamic International Opportunity Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| ICCIX | Class I | 1.67% | none |
| COUAX | C000131812 | 1.79% | 5.75% |
| ICCNX | Class N | 1.92% | none |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.